You Cannot Accumulate a Fortune by Taking the Road That Leads To Poverty
- Date: 2007-03-01 - Word Count: 746
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Many people talk about getting rich. Some of these people even have plans for getting rich. But when you look at what they do each and every day you see that they are not really on the road to wealth.
If you are truly traveling the road to wealth then there should be some evidence that you are moving in the right direction. What is different today than it was last week? Let's look at a way that you can examine the evidence to see whether or not you are on the right road.
Life is a series of patterns. If you can identify the patterns that your life is following then you can predict with reasonable confidence where you are headed. This is true in all areas of your life whether it be relationships, physical health and fitness, time management, happiness or money matters.
What patterns are in your life around wealth?
If you are on the road to wealth then you should see patterns that indicate a growing net worth and ideally a growing net annual income as well.
Success in life requires a continuing series of goal directed actions, feedback from those actions and then adjustment of your actions in response to that feedback. If your actions aren't taking you where you want to go, at a reasonable speed, then you need to modify your actions or perhaps take different actions entirely.
A crucial part of this process is collecting and analyzing the feedback that you are receiving.
Every action you take provides you with potential feedback. Your action either produces one of three possible results; a change in your circumstances, an indication that a change is on the way, or no change. If you truly want to accumulate wealth then you have to accurately and unemotionally read the feedback from each of your actions.
Actions That Produce Financial Change
Is this change for the better or the worse? Not all financial changes are making you richer. Some are making you poorer. If you are continually making investments that lose money then you have to accept that your investment strategy is a poor one. Persisting with it because of ego or hope is a form of insanity.
If it is for the better then is the change large enough for you to accurately say that you are on target?
The best way to assess financial growth is in percentage growth. For example an average annual net worth increase of 30% can turn $100,000 into $19 million in 20 years and $3.6 billion in 40 years. However if the average annual increase was only 10% then that same stake would grow to only $672,000 in 20 years and $4.5 million in 40 years.
When assessing a change you should try to determine if the change is repeatable and sustainable or just a chance event? You do this by looking for patterns. There is a wise saying that goes; once could be chance, twice could be a coincidence, but if you are seeing the same result three times then you are probably looking at a pattern.
Actions That Produce a Promise of Financial Change
Sometimes you don't initially see a financial improvement but you see a promise of an improvement. For example, if you know that on average 10% of the "lookers" who come to your store actually buy something, and the number of "lookers" is steadily increasing then it could be a sign that increased sales will soon follow. However if increased sales don't follow fairly soon then you could conclude that the new "lookers" are of a different type to your usual client and sales may not result from them.
The lesson is to be guided by the actual results more than the potential results.
Actions That Produce No Financial Change
If no change results from your actions then you can be confident that you are taking the wrong actions and you need to change what you are doing. The trick here is to make sure that you are not changing so quickly that you aren't giving you actions time to produce rewards and by the same token that you are not hanging on too long because your ego can't accept that what you are doing isn't working.
Conclusion
Look for the patterns in your results and be guided by those patterns as to whether you continue your current actions, modify them, or change them completely.
James Delrojo would like to help you by giving you his
ebook "Unleash the Success Power of Your Mind"
(valued at $27) completely FREE.
Go to http://www.YourSuccessMind.com
If you are truly traveling the road to wealth then there should be some evidence that you are moving in the right direction. What is different today than it was last week? Let's look at a way that you can examine the evidence to see whether or not you are on the right road.
Life is a series of patterns. If you can identify the patterns that your life is following then you can predict with reasonable confidence where you are headed. This is true in all areas of your life whether it be relationships, physical health and fitness, time management, happiness or money matters.
What patterns are in your life around wealth?
If you are on the road to wealth then you should see patterns that indicate a growing net worth and ideally a growing net annual income as well.
Success in life requires a continuing series of goal directed actions, feedback from those actions and then adjustment of your actions in response to that feedback. If your actions aren't taking you where you want to go, at a reasonable speed, then you need to modify your actions or perhaps take different actions entirely.
A crucial part of this process is collecting and analyzing the feedback that you are receiving.
Every action you take provides you with potential feedback. Your action either produces one of three possible results; a change in your circumstances, an indication that a change is on the way, or no change. If you truly want to accumulate wealth then you have to accurately and unemotionally read the feedback from each of your actions.
Actions That Produce Financial Change
Is this change for the better or the worse? Not all financial changes are making you richer. Some are making you poorer. If you are continually making investments that lose money then you have to accept that your investment strategy is a poor one. Persisting with it because of ego or hope is a form of insanity.
If it is for the better then is the change large enough for you to accurately say that you are on target?
The best way to assess financial growth is in percentage growth. For example an average annual net worth increase of 30% can turn $100,000 into $19 million in 20 years and $3.6 billion in 40 years. However if the average annual increase was only 10% then that same stake would grow to only $672,000 in 20 years and $4.5 million in 40 years.
When assessing a change you should try to determine if the change is repeatable and sustainable or just a chance event? You do this by looking for patterns. There is a wise saying that goes; once could be chance, twice could be a coincidence, but if you are seeing the same result three times then you are probably looking at a pattern.
Actions That Produce a Promise of Financial Change
Sometimes you don't initially see a financial improvement but you see a promise of an improvement. For example, if you know that on average 10% of the "lookers" who come to your store actually buy something, and the number of "lookers" is steadily increasing then it could be a sign that increased sales will soon follow. However if increased sales don't follow fairly soon then you could conclude that the new "lookers" are of a different type to your usual client and sales may not result from them.
The lesson is to be guided by the actual results more than the potential results.
Actions That Produce No Financial Change
If no change results from your actions then you can be confident that you are taking the wrong actions and you need to change what you are doing. The trick here is to make sure that you are not changing so quickly that you aren't giving you actions time to produce rewards and by the same token that you are not hanging on too long because your ego can't accept that what you are doing isn't working.
Conclusion
Look for the patterns in your results and be guided by those patterns as to whether you continue your current actions, modify them, or change them completely.
James Delrojo would like to help you by giving you his
ebook "Unleash the Success Power of Your Mind"
(valued at $27) completely FREE.
Go to http://www.YourSuccessMind.com
Related Tags: wealth creation, cause and effect, getting rich, life patterns, producing financial change, financial change, actions and results
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